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Teresa Arana
Teresa Arana
Re Max Innovate
Bellflower, CA 90706

562-569-1499
Contact Me

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How to do I avoid property tax reassessment?

This article explains four ways of avoiding property tax reassessments that every homeowner in California should know. The property tax rate imposed on California homeowners is equal to 1% to 1.25%( more in some areas) of the property’s assessed value at the time of purchase. The assessed value is equal to the current market value of the property as of the date there is a change in ownership, plus a yearly increase in value based on inflation. Proposition 13 mandates that the yearly increase does not exceed 2% of the previous year’s value.

 

It is important to determine to determine if your property qualifies for one of these exclusions when you sell or transfer the property.

 

 

Propositions 60 & 90 – Relocation of Homeowners Age 55 (or older)

 

The following is important requirements of Proposition 60 and Proposition 90:

 

Proposition 58 – Transfer between Parent and Child

 

The following are the important requirements of Proposition 58 and Proposition 193:

 

Proposition 193 – Transfer between Grandparent and Grandchild:



Teresa Arana | 562-569-1499 | Contact Me
16536 Bellflower Blvd - Bellflower, CA 90706
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